InshaAllah Production Limited (IPL) is a manufacturer of various machine parts. Following information has been extracted from the cost records of one of its products BUG" for the month of December 2019: (i) Standard cost per unit: Rupees Raw Material 170.00 Direct Labour (1.25 hours) 150.00 Overheads 137.50 (ii) Based on normal capacity of 128,000 direct labour hours, fixed overheads are estimated at Rs. 2,560,000. (iii) Following information pertains to production of 100,000 units of product BUG: Actual direct labour hours worked Unfavorable material usage variance Unfavorable material price variance Actual direct labour cost Actual fixed and variable overheads Hrs Rs. Rs. Rs. Rs. 130,000 820,000 600,000 16,250,000 15,500,000 Required: Compute the following for the month of December 2019: (a) Actual material cost (b) Labour variances (c) Overhead variances